Open a business bank account
A limited company needs its own bank account, separate from your personal finances — it's where takings, supplier payments, payroll and tax all flow through, and it's what your card machine, accounting software and payroll provider will connect to.
A limited company needs its own bank account, separate from your personal finances — it's where takings, supplier payments, payroll and tax all flow through, and it's what your card machine, accounting software and payroll provider will connect to. This isn't a government service, so you're choosing between banks and challenger providers rather than applying through gov.uk.
Mixing business and personal money makes your accounts harder to prepare, harder for HMRC to accept at face value if you're ever checked, and can undermine the limited liability protection the company structure is meant to give you.
This is a commercial choice, not a government process — compare high-street banks and challenger banks for fees, card machine integration and hospitality-specific features.
Who this is for
Every trading limited company. Sole traders aren't legally required to have a separate account but it is strongly advisable.
You'll typically need your certificate of incorporation, company number, and proof of ID and address for all directors/signatories.
What you’ll hold
- Certificate of incorporation
- Proof of ID and address for signatories
- Account opening confirmation
Watch out for
- Leaving this until the week before opening — verification checks for new business accounts can take longer than expected, especially for cash-handling hospitality businesses.
- Choosing an account with no support for a card machine or till system integration, then having to switch once trading starts.
- Continuing to run early costs through a personal account "just for now" and losing track of what's reclaimable or deductible.
Sources
- GOV.UK — Set up a business checked 2026-09-02
See also
This is item 8 of 66 in the free UK Launch Checklist. See the whole list →